Mubadala H1 group profit nears $3bn

ABU DHABI, September 20, 2018

Mubadala, the Abu Dhabi-based investment and development company, reported a group profit of Dh10.9 billion ($2.9 billion) for the first half of 2018, driven by strong public equities performance and operating companies in the petroleum and petrochemicals platform.

Total comprehensive income was Dh10.6 billion ($2.88 billion) for the same period.

Total assets of Mubadala, including consolidated ADIC holdings, were Dh832 billion ($226.4 billion) for the period ending June 30, Mubadala said in a statement. Total Equity was Dh583 billion ($158.7 billion) at the end of H1 2018.

Group chief executive officer and managing director, Khaldoon Khalifa Al Mubarak, said: “In the first half of the year, we continued to deploy capital in new sectors and geographies, in line with our long-term strategy. We also monetized select assets at good valuations, to deliver financial returns. And, the decision to bring the Abu Dhabi Investment Council into the Mubadala Group has increased the scale and breadth of our portfolio.” - TradeArabia News Service